Ambitious expansion plans for the plant near Budapest will make it one of the largest in the world, as Hungary becomes a centre of EV battery production for Europe's growing electric car industry.
Hungary can rely on two energy sources, nuclear and solar energy to meet the climate goals set out in the Paris Agreement, said President Janos Ader recently.
Four South Korean e-car battery makers have chosen Hungary for their production sites, as European car manufacturers prepare to expand or replace their existing models with new fully electric or hybrid models.
"Finally, we will do Nikola Tesla proud by having his cars in his countries of origin!" said Tesla CEO Elon Musk.
More than 110 companies operate service centres in the country, employing approximately 50,000 people, mainly young specialists who speak foreign languages.